Skip Header

Drawdown transfer

Going into drawdown with one pension provider doesn’t mean you are stuck with them forever. If you’re taking money from your pension through drawdown and planning to do so for a decade or two, it may be worth your while moving your pension to a new provider.

Important information - the value of investments, and the income from them, can go down as well as up, so you may not get back what you invest. Eligibility to invest in a SIPP and tax treatment depends on personal circumstances and all tax rules may change in the future. You cannot normally access money in a pension until age 55 (57 from 2028). It’s important to understand that pension transfers are a complex area and may not be suitable for everyone.

A pension with a lower service fee could save you money in the long run. You might also find you have more investment options which allow you to take greater control of your retirement income.

Why transfer a pension in drawdown to Fidelity?

Potentially lower service fees
Wide investment choice
Great service

We can help

If you want to transfer a pension to us that is already in drawdown, please contact our retirement specialists to start the process. Transferring a pension is a big decision, so they will explain what happens and offer any guidance or advice you may need.

Call us on 0800 368 6882, Monday to Friday, 9am - 5pm.

Fidelity's Retirement Service

Pension Wise

The Government's Pension Wise service offers free, impartial guidance to help you understand your options at retirement. You can access the guidance online at or call them on 0800 011 3797.

Take control of your pensions by bringing them together

Trying to manage pensions across different providers can be both time-consuming and difficult. Bringing them together into Fidelity’s Self-Invested Personal Pension (SIPP) can help you take control and plan ahead more effectively. 

Find out more

Important information - It’s important to understand that pension transfers are a complex area and may not be suitable for everyone. Before going ahead with a pension transfer, we strongly recommend that you undertake a full comparison of the benefits, charges and features offered. To find out what else you should consider before transferring, please read our transfer factsheet. Please note that this information and our guidance tools are not a personal recommendation in respect of a particular investment. If you need additional help, please speak to an authorised financial adviser.  You should regularly reassess the suitability of your investments to ensure they continue to meet your attitude to risk and investment goals. If you are in any doubt whether or not a pension transfer is suitable for your circumstances we strongly recommend that you seek advice from one of Fidelity’s advisers or an authorised financial adviser of your choice.